GOP Tax Legislation

Written by Madeline Head
Let us take a deeper look into the GOP new tax legislation. The Washington Post states an analysis of the House Bill released Thursday evening,

“by the Joint Committee on Taxation calculates the total revenue cut of the House tax bill at $1.49 trillion over the coming decade. Nearly 80 percent of that cost, however, is attributable to business provisions – including a lower 20 percent corporate tax rate and a new 25 percent rate for “pass-through” business income taxed on an individual basis – as well as changes to the estate tax that would benefit only the wealthy.”

This new bill leaves little to be desired and over the next few weeks many of you will start to notice that. This new tax legislation is benefiting only big corporations as well as the wealthy once again. Senate Minority leader Charles E Schumer (D-N.Y.) stated, “The more people find out about it, the less they’ll like. This bill is like a dead fish. The more it’s in sunlight, the more it stinks, and that’s what’s going to happen.”

The Democrats plan to protest this bill thoroughly over the next couple of weeks like they did with Trumpcare. The Washington Post stated, “Schumer said that Democrats would work over the coming weeks to make sure Americans learn who will reap the bulk of the bill’s benefits…”

The GOP once again seems to be trying to take advantage of the middle and upper-middle class. These classes are the foundation of America and yet they seem to be disappearing before our eyes because of tax legislations just like this. “The people who probably end up fairing the worst in this bill are their base constituents, which are middle class and upper-middle-class,” Schumer said, adding, as reported by The Washington Post, “To do such deep tax cuts for the wealthy and corporate America, big corporations, they’ve had to tie themselves in a knot in other areas. That’s why they’re in a pickle.”

The GOP seems to have no to little regard for this country since they still seem to believe that giving tax cuts to the wealthy and big corporations are bettering us. The foundation of the country is already rocky. We can only hope that they Democrats do their job and protest this tax legislation to the point that it fails, for the future of this country.